To explore what goes into creating a successful auction experience, Pifer's Auction & Realty President and Founder Kevin Pifer sat down for an in-person interview to discuss the process from start to finish.
The following questions and answers provide insight into what makes a great auction day and the expertise behind every Pifer's auction.

Seller Preparation

Q. How far in advance should someone book an auction? 
A. Typically the best time would be a 45 - 60 days.  That gives the auction company adequate time to properly market the sale, reach potential buyers, and make sure the auction gets the exposure it needs to be successful.

Q. What surprises sellers most about the auction process? 
A. How seamless of an experience it can be if you hire a professional company.

Q. What advice would you give someone who has never sold at auction before? 
A. That if you’re feeling anxious, that it is very normal. For most people, an auction only happens once in their lifetime, while the auction company goes through this every day with strategies that are proven and time tested. The results will likely exceed your expectations.

Auction Day

Q. What does your day look like before the first item sells? 
A. It’s a continuation of the preparation process. We want to make sure we’ve covered all the bases, reached out to potential buyers, answered any questions they may have, and made sure they’re comfortable before the bidding begins.

Q. What signs tell you an auction is going to be successful? 
A. The number of people that have contacted us prior to the auction and the level of interest we're seeing through phone calls and emails.

Q. What role does the crowd play in creating a successful auction atmosphere? 
A. I think it comes down to the mindset of the auctioneer. The auctioneer sets the tone for the day, and it’s important that they stay positive and keep things moving. The crowd tends to follow the energy of the auctioneer.

Buyers

Q. What advice would you give first-time bidders? 
A. I think the main thing is to make sure you do your due diligence on whatever you're bidding on. It's also important to understand the auction process and consult with your auctioneer or the agent that is handling the sale.

Q. What common misconceptions do buyers have about auctions? 
A. I don't know if there are necessarily misconceptions, but I think there can be a lot of anxiety around the auction process, and that's completely normal. Sometimes people think it's more complicated than it really is. If the process is explained properly upfront by the auction company and auctioneer, most people find it to be a very positive experience.

Q. What should buyers do before auction day to be prepared? 
A. They need to make sure they do their due diligence. And then they really should establish what their high bid will be. Do it the day before. Don’t do it the day of the auction.

Q. How has online bidding changed the auction experience? 
A. It's been rather seismic, actually. It's been a big change in the industry because so much of the actual selling by auction now takes place online. It has taken away some of the personal touches of the auction profession, and I think it has eroded some of the personal experiences you can have at a live auction.

Other

Q. What's the most memorable auction you've ever conducted? 
A. I think some of the most memorable ones are the ranches we've sold in the Dakota Badlands. The properties are incredibly beautiful and expansive, and those are the ones that tend to stick with me.

Q. What is your favorite part of auction day? 
A. I like the interaction between the auctioneer, ringmen, and buyers because it plays into the dynamics of a live auction. When it's handled with transparency and everyone is comfortable with the process, it should be a positive experience for the seller, the buyer, and the auction company.